February 17, 2025: At a post-budget interaction event in Mumbai, honourable finance minister Nirmala Sitharaman today handed over keys to homebuyers from select projects in the Mumbai Metropolitan Region (MMR), whose long-stressed residential projects have been completed under the “Special Window for Affordable and Mid-Income Housing (SWAMIH I) Investment Fund”. This milestone marks the completion of 50,000 homes to relieve distressed homebuyers and revive stressed residential projects nationwide.
Homebuyers from projects including Avant Hillways, Vision Heights, and Shubham Trident received their keys at the event, marking the completion of stalled housing projects under the SWAMIH Fund and enabling homebuyers to finally move into their homes.
Established in 2019 and managed by SBI Ventures Ltd., a State Bank of India Group company, the SWAMIH Fund is sponsored by the ministry of finance. It supports stressed and brownfield residential projects, helping to complete stalled developments and deliver homes to buyers.
Prem Prabhakar, MD and CEO of SBI Ventures Ltd, said, “With the vision and support of the Government of India, this fund has paved the way for the completion of numerous housing projects, ensuring that thousands of families can finally call these homes their own”.
By targeting distressed housing projects, SWAMIH is also driving credit growth in the housing sector, boosting access to home loans, and contributing to a stronger, more inclusive economy.
This milestone reflects the fund’s impact in completing stalled projects and assisting homebuyers in gaining possession of their homes.
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